Carlyle Drops Out Of Bidding For Port Of Va.

Law360, New York (October 17, 2012, 6:48 PM EDT) -- The Carlyle Group LP has dropped its bid to operate the Port of Virginia three years after first expressing interest in the deepwater hub, which has attracted several privatization offers as the state looks to correct slipping revenues, a state official confirmed Wednesday.

A spokesman for Virginia Gov. Bob McDonnell confirmed that Carlyle Infrastructure Partners, the private equity firm's $1.1 billion 2006 fund, had pulled out of the running to privatize the port, one of the deepest and busiest on the East Coast

"They basically have...
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